(Yicai Global) March 29 -- Dialine New Material Science and Technology, one of the first Chinese makers of diamond wire, received a CNY920 million (USD134 million) order for saws to cut solar silicon wafers from an unidentified photovoltaic firm in China.

Dialine will provide the buyer with diamond wire for the next two years, the Changsha-based firm said late yesterday. The deal is equal to 143 percent of Dialine’s revenue last year, it noted.

The order was placed by a well-known Chinese PV firm, Dialine added, without disclosing the buyer's name, order volume, unit price, delivery schedule, or any other details.

Dialine’s clients include silicon wafer giant Longi Green Energy Technology and solar module and power station developer Yingli Energy, according to its website. 

Shares of Dialine [SHE: 300700] closed 1 percent lower today at CNY33.20 (USD4.82) each, after jumping by as much as 5.8 percent in the morning trading session.

Thanks to strong demand for diamond wire and expanding production capacity, Dialine's revenue soared 137 percent to CNY643 million (USD93.4 million) in the year ended Dec. 31 from 2022, according to its most recent trading report. Net profit was CNY91 million (USD13.2 million), versus a net loss of CNY78.1 million in 2021.

Dialine's monthly output capacity of diamond wire rose to 3 million kilometers last December from 800,000 kms in January of the same year.

Editor: Martin Kadiev